FM Sitharaman takes to Twitter, says India poised to recover strongly in the upcoming quarters
FM said that India’s sustained GDP growth and controlled inflation has boosted investor confidence
Finance Minister Nirmala Sitharaman took to Twitter today to make a few important announcements. FM said that India’s sustained GDP growth and controlled inflation has boosted investor confidence. She said that this can be seen by the increase in FDI inflows and forex reserves over the last few years.
This has been despite the tremendous impact of the pandemic, she said and added, "In spite of COVID-19 affecting the economy, India is poised to recover strongly in the upcoming quarters due to reform orientation, resilient financial system, and robust domestic consumption."
FM also said that critical changes have been brought to the overall system by the NDA government. She said, "Prime Minister Modi has been consistently introducing reforms that are improving the investment climate in India. The government has always strived to create a business-friendly ecosystem and reduce the cost of doing business through responsive policy actions."
Highlighting the big impact that this has had on the Indian economy, FM said, "With increase in spending power and growth in consumption expenditure, along with increasing internet and smartphone penetration, India is fast turning into a market that every investor would like to tap."
A big focus area for the government has been infrastructure development. FM said that this leads to a multiplier effect and India has been steadily investing in infrastructure.
FM also referred to the steps taken by the government at the level of the public to ameliorate the impact of the pandemic. FM said, "The government has taken timely steps to not only save lives from the COVID-19 threat but also reignite the economy thereafter."
Returning to the economy, FM said, "The investment landscape in India offers abundant opportunities across sectors, segments and industries. The National Infrastructure Pipeline, with an investment target of $1.5 trillion by 2025, provides opportunities to invest in the creation of large infrastructure assets."
She added, "The Government’s Make-in-India initiative is in essence a Make-for-the-World policy, with India rapidly gaining a greater share in the global value chain. India is on track to becoming a sought-after and favoured destination for global manufacturers."
See Zee Business Live TV Streaming Below:
FM concluded by saying, "India has seen robust investment inflows in recent times, with several MNCs committing significant investments in the country."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.